Egypt’s CIB posts 22% rise in Q1 income

May 18, 2014 9:44 am

Egypt’s largest-listed lender, Commercial International Bank (CIB) has said that first-quarter consolidated net income jumped 22.4% from a year earlier to EGP805.6m ($113.18m), as its interest margin widened, Ahram has reported. Net interest income rose to EGP1.36bn during the first three months from EGP1.13bn in the same period of last year. Revenues in the period between January and March 2014 rose by an annual 14.2% to EGP1.84bn.